GST on Property
Applies to new builds, commercial, and developer vacant land — not most resales.
What is GST on Property?
GST (10%) applies to certain property transactions — new residential developments (first sale), commercial property, vacant land sold by developers. Established residential properties sold between individuals are generally GST-free.
Why it matters for you
If you're buying off-the-plan or a new build, confirm whether the price is inclusive or exclusive of GST. Developers often use the margin scheme, which reduces the GST on the transfer. Always get specific accountant advice for commercial or new-build purchases.